Paragraph 1 (2–4 sentences)
Brazil’s tax authority data show that stablecoins now account for the vast majority of reported crypto transactions, with monthly volumes in the six-to-eight billion-dollar range and a potential rise to nine billion by 2030. The report comes as Brazil’s central bank unveils its most extensive set of crypto regulations to date and introduces a new reporting framework called DeCripto, to take effect in July 2025.
Paragraph 2 (2–4 sentences)
DeCripto is anchored to the OECD’s Crypto-Asset Reporting Framework and enables automatic exchange of tax information across borders. It requires exchanges to classify transactions into crypto-to-fiat trades, crypto-to-crypto swaps, retail payments above $50,000, transfers in and out of wallets, and movements to unhosted wallets. Data collection for the regime starts in January 2025, aligning oversight with the scale of Brazil’s growing crypto economy.
Paragraph 3 (2–4 sentences)
The new framework also creates a licensing regime for crypto service providers and brings activities under Brazil’s foreign exchange and capital market rules. Crypto firms will be required to hold between $2 million and $7 million in capital, depending on business type, and foreign companies serving Brazilian clients must establish a local entity. Firms failing to meet the nine-month compliance window risk being barred from operating.
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